Asia
China Taiping exits NZ market amid rumours of reinsurance difficulties
China Taiping Insurance is withdrawing from the New Zealand market with immediate effect.
Insurers in bidding war for Air India's $8.6bn aviation policy
Three private non-life insurers have launched a consortium bid for Air India's $8.6bn aviation insurance policy, according to India's Financial Chronicle.
Indian health insurer targets private sector after losing government business
India's first standalone health insurer plans to raise Rs 100-150 crore of additional capital to drive the private retail segment following the loss of key business from two state governments, The Economic Times reported.
QBE's 'A+' IFS rating affirmed
Australian insurer QBE has had its 'A' long-term issuer default rating and 'A+' insurer financial strength rating affirmed by Fitch.
AIA posts 28% rise in new business in H1
Pan-Asia life insurer AIA Group posted a 28% rise in the value of new business to $512m in the first half of 2012.
JLT buoyed by growth in Asia and Latin America as revenue jumps 7% to £441.7m
International broker Jardine Lloyd Thompson Group this morning reported total revenue was up 7% to £441.7m in the first six months of 2012 and an 11% rise in profit before tax to £85.1m. Underlying PBT increased 12% to £89.4m.
Lloyd's Insurance Co China's 'A' rating affirmed
AM Best has affirmed the financial strength rating of A (Excellent) and issuer credit ratings of 'A+' of Lloyd's (UK) and Lloyd's Insurance Company (China) Limited.
Atradius advises global firms on pitfalls of Indian market
Credit insurer Atradius has released a guide on how to trade successfully with India, as part of a series of reports designed to help businesses trade profitably with the world's emerging markets.
Insured losses from Chinese storms expected to reach $78.7m
Insured losses from the severe storm that struck Beijing last Saturday are estimated at ¥500m ($78.7m), the city's insurance regulatory commission said on Thursday.
Argo Re recruits underwriter for Dubai team
Argo Group International Holdings has appointed Jason Dsouza as a casualty and professional lines underwriter for Argo Re in Dubai.
Insurance CEOs see Asia as most important for growth
Insurance chief executives see Asia as the most important growth region over the next 12-24 months, according to a survey by the Geneva Association.
Insured losses from Vicente estimated to be $100m to $300m
Economic losses from typhoon Vicente, which struck Hong Kong on 23 July, are expected to be $600m to $1.5bn, catastrophe modelling firm Eqecat said.
Former Clyde partner launches new law firm
David Coupe, a former partner at Clyde & Co and Ince & Co, has launched EC3 Legal, a new City law firm focused on representing the intermediated insurance market.
Single accounting framework is an 'ideal' that would take 'years'
The benefits of a single set of accounting standards have long been debated, but a recent report has revealed a surge in insurer support. Francesca Nyman considers the feasibility of this goal.
Top five Asian news stories
The top five Asian stories from www.insuranceinsight.com over the past seven days.
Draft rules offer China's insurers more investment scope
Chinese insurers will be able to double their investments in private equity along with trading financial derivatives at home and abroad, according to Reuters.
HK Stock Exchange resumes trading as typhoon warning lowered
Hong Kong lowered its cyclone warning on Tuesday and its markets resumed trading after Typhoon Vicente, the most intense storm to hit the city since 1999, moved towards China.
RSA appoints construction and engineering leader for GSL
RSA has appointed Clive Harrington-Rutterford as global portfolio leader for the firm's construction and engineering business.
SSP appoints Paul Webb as head of delivery
Global technology provider SSP has appointed Paul Webb to the position of head of delivery for its insurer division.
Catastrophe reinsurance market nears strategic shift
The catastrophe reinsurance market may be on the cusp of a strategic shift, with third-party capital providers set to take on increasing amounts of peak catastrophe risk in the future.
London company market aims to bring quicker processing to Europe and Asia
International Underwriting Association members have seen premium processing times cut from weeks to just days under a new initiative which will be rolled out to Europe and Asia.
Willis restructures international operations
Willis International has reorganised its Asia Pacific, Middle East and Africa operations amid a management resuffle.
Willis strengthens leadership in Asia and Middle East
Willis International has created three regional business units under new and expanded leadership in recognition of the size, growth and strategic importance of its Asia Pacific, Middle East and Africa operations to Willis Group Holdings.
Positive outlook for Malaysia's insurance market
The outlook for Malaysia's insurance sector is positive, according to the country's Minister of Human Resource and Development.